Pangolin and BENQI Finance join forces in an official partnership
The Pangolin team is ecstatic to announce a partnership with the BENQI Finance on Avalanche! BENQI is a non-custodial liquidity market protocol, built on Avalanche. The BENQI protocol enables users to effortlessly lend, borrow, and earn interest with their digital assets. Joining forces with BENQI is a critical partnership for the Pangolin team due to the importance of having a premier lending protocol on Avalanche.
With this partnership, Pangolin users can now deposit into BENQI’s lending platform to earn passive income, or use collateral to borrow a variety of token assets. Pangolin will support the BENQI project by adding PNG reward pools for the AVAX-QI pair at 1x multiplier us and PNG-QI at 5x multiplier. Additionally, BENQI will be using Pangolin as its primary liquidity provider for the QI token, as well as rely on Pangolin’s deep liquidity pools for protocol liquidations.
“We are proud to be working with the team at Pangolin, who have been excellent custodians for Avalanche DeFi. Efficient AMMs with deep liquidity are a cornerstone of any successful DeFi ecosystem, and Pangolin’s agility in tuning its parameters to different market conditions has been exemplary. ”
— JD Gagnon, Co-Founder
Built on Avalanche’s highly scalable network, BENQI’s vision of bridging decentralized finance (DeFi) and institutional networks starts by launching BENQI on the Avalanche C-Chain. Through BENQI, Avalanche users will be able to earn interest on their assets, obtain credit through over-collateralized loans and earn QI governance tokens as rewards for providing liquidity on the protocol and Pangolin. For more information about BENQI, please visit: benqi.fi
About Pangolin Exchange
Pangolin Exchange is a community-driven decentralized exchange (DEX) with fast-settlement, low fees, and a democratic process. Built on the Avalanche Network. Pangolin brings you the best trading opportunities to find and maximize your yield.